UBT Ocean: east of Haradere

UBT Ocean hijacked on March 5, chemical tanker, Marshall Island flagged , is now reported in the vicinity off the pirate stronghold east of Haradere.

Brovig, engaged in most trades, crude, oils and products, chemical tankers,
Th. Brøvig Group was founded in 1889 by Tharald Brøvigs great-grandfather Gunder Christian Brøvig and has followed the development from sail through steam up to the modern fleet. Throughout more than a century the company has sailed through rough weather and calm seas in a world shifting in world trade and politics. The Group has been engaged in most trades, crude, oils and products, chemical tankers, dry cargo bulk, fruit, live stock and container vessels. It also established a liner service between USA and Mexico. This line was operated by Brøvig for three decades. Eventually this line was sold to the Mexican state. Throughout the years the company has operated as time-charterer for both tank and dry cargo tonnage. During the late 1970’s the shipping business world wide suffered from overcapacity and decreased demand for transport. During this period several old vessels were sold and some new vessels came into the fleet. In the early 1980’s the Norwegian K/S system was reintroduced, and this led to a giant investment by Norwegian shipowners, mostly in second hand tonnage. This was also the case with Th. Brøvig. These new investments, however turned out to be very expensive, and the company suffered heavy losses due to very high operational costs and falling freightmarkets. It finally was decided to cut losses and the vessels were sold, the last one in 1992. The Group was restructured by Tharald Brøvig in 1992 as the sole owner of the Group. The Groups activities have from then been diversified in venture and shipping where venture has been the main activity.